Common use of Condemnation Repair Work Clause in Contracts

Condemnation Repair Work. In the event of (i) a Condemnation affecting less than the whole of the Premises or Substantially All of the Improvements or (ii) a Condemnation Action affecting the whole of the Premises or any material part of the Premises and StadCo does not exercise its option to terminate this Agreement pursuant to Section 11.3, the Term shall not be reduced or affected in any way, and StadCo shall, with reasonable diligence (subject to Force Majeure), commence and thereafter proceed to repair, alter, and restore the remaining part of the Premises to substantially its former condition to the extent feasible and necessary so as to cause the same to constitute a complete sports and entertainment stadium complex usable for its intended purposes to the extent permitted by Applicable Laws and in compliance with the NFL Rules and Regulations and sufficient to continue to host events and meet the Facility Standard. Such repairs, alterations or restoration, including temporary repairs for the protection of Persons or Property pending the substantial completion of any part thereof, are referred to in this Article 11 as the “Condemnation Repair Work.” With respect to any Condemnation Repair Work exceeding the cost of Twenty Million and No/100 Dollars ($20,000,000.00),the Authority shall have the right to (i) Approve the general contractor and lead architect, if any, selected by XxxxXx to perform the Condemnation Repair Work, (ii) approve the terms of the contracts with the general contractor and lead architect, if any, selected by XxxxXx to perform the Condemnation Repair Work, (iii) approve all contracts requiring payment greater than Ten Million and No/100 Dollars ($10,000,000.00) recommended by StadCo to be entered into by StadCo for the Condemnation Repair Work, and (iv) engage an independent construction representative to review the Condemnation Repair Work, the cost of such representative shall be shared equally between StadCo and the Authority. To the extent any Condemnation Repair Work is not performed by StadCo’s employees, such Condemnation Repair Work must be performed on an arm’s-length, bona fide basis by Persons who are not Affiliates of StadCo and on commercially reasonable terms given the totality of the then-existing circumstances.

Condemnation Repair Work. In the event of (i) a Condemnation affecting less than the whole of the Premises or Substantially All of the Improvements or (ii) a Condemnation Action affecting the whole of the Premises or any material part of the Premises and StadCo Bristol does not exercise its option to terminate this Agreement Lease pursuant to Section 11.315(c), the Term shall not be reduced or affected in any way, and StadCo Bristol shall, with reasonable diligence (subject to Force Majeure), commence and thereafter proceed to repair, alter, and restore the remaining part of the Premises to substantially its former condition to the extent feasible and necessary so as to cause the same to constitute a complete sports and entertainment stadium complex motorsports speedway usable for its intended purposes to the extent permitted by Applicable Laws and in compliance with the NFL Rules and Regulations and sufficient to continue to host events and meet the Facility Standard. Such repairs, alterations or restoration, including temporary repairs for the protection of Persons or Property pending the substantial completion of any part thereof, are referred to in this Article 11 Section 15 as the “Condemnation Repair Work.” With respect to any Condemnation Repair Work exceeding the cost of Twenty Ten Million and No/100 Dollars ($20,000,000.00),the Authority 10,000,000.00),the Fair Board shall have the right to (i) Approve the general contractor and lead architect, if any, selected by XxxxXx Bristol to perform the Condemnation Repair Work, (ii) approve the terms of the contracts with the general contractor and lead architect, if any, selected by XxxxXx Bristol to perform the Condemnation Repair Work, (iii) approve all contracts requiring payment greater than Ten Five Million and No/100 Dollars ($10,000,000.005,000,000.00) recommended by StadCo Bristol to be entered into by StadCo Bristol for the Condemnation Repair Work, and (iv) engage an independent construction representative to review the Condemnation Repair Work, the cost of such representative shall be shared equally between StadCo Bristol and the AuthorityFair Board. To the extent any Condemnation Repair Work is not performed by StadCoBristol’s employees, such Condemnation Repair Work must be performed on an arm’s-length, bona fide basis by Persons who are not Affiliates of StadCo Bristol and on commercially reasonable terms given the totality of the then-existing circumstances. Nothing contained in this Section 15(d) shall limit the Fair Board’s liability under Section 20(c)(v) hereof.

Condemnation Repair Work. In the event of (i) a Condemnation affecting less than the whole of the Premises or Substantially All of the Improvements or (ii) a Condemnation Action affecting the whole of the Premises or any material part of the Premises and StadCo does not exercise its option to terminate this Agreement Lease pursuant to Section 11.323.1, the Term shall not be reduced or affected in any way, and StadCo shall, with reasonable diligence (subject to Force Majeure), commence and thereafter proceed to repair, alter, and restore the remaining part of the Premises to substantially its former condition to the extent feasible and necessary so as to cause the same to constitute a complete sports and entertainment stadium complex usable for its intended purposes to the extent permitted by Applicable Laws and in compliance with the NFL Rules and Regulations and sufficient to continue to host events and meet the Facility Operating Standard. Such repairs, alterations or restoration, including temporary repairs for the protection of Persons or Property property pending the substantial completion of any part thereof, are referred to in this Article 11 23 as the “Condemnation Repair Work.” With respect to any Condemnation Repair Work exceeding the cost of Twenty Seven Million Five Hundred Thousand and No/100 Dollars ($20,000,000.00),the 7,500,000.00), the Authority shall have the right to (i) Approve approve the general contractor and lead architect, if any, selected by XxxxXx StadCo to perform the Condemnation Repair Work, (ii) approve the terms of the contracts with the general contractor and lead architect, if any, selected by XxxxXx to perform the Condemnation Repair Work, (iii) approve all contracts requiring payment greater than Ten Million and No/100 Dollars ($10,000,000.00) recommended by StadCo to be entered into by StadCo for the Condemnation Repair Work, and (iv) engage an independent construction representative to review the Condemnation Repair Work, the cost of such representative shall be shared equally between StadCo and the Authority. To the extent any Condemnation Repair Work is not performed by StadCo’s employees, such Condemnation Repair Work must be performed on an arm’s-length, bona fide basis by Persons who are not Affiliates of StadCo and on commercially reasonable terms given the totality of the then-existing circumstances.,

Condemnation Repair Work. In the event of (i) a Condemnation Action affecting less than the whole of the Premises Land or Substantially All of the Project Improvements or (ii) a Condemnation Action affecting the whole of the Premises Land or any material part Substantially All of the Premises Project Improvements and StadCo does not exercise its option to terminate this Agreement pursuant to Section 11.315.1, the Project Term shall not be reduced or affected in any way, and StadCo shall, with reasonable diligence (subject to Force Majeure), commence and thereafter proceed to repair, alter, and restore the remaining part of the Premises Land and Project Improvements to substantially its their former condition to the extent feasible and necessary so as to cause the same to constitute a complete sports and entertainment stadium complex usable for its intended purposes to the extent permitted by Applicable Laws and in compliance with the NFL Rules and Regulations and sufficient to continue to host events and meet the Facility Standardnecessary. Such repairs, alterations or restoration, including temporary repairs for the protection of Persons or Property pending the substantial completion of any part thereof, are referred to in this Article 11 15 as the “Condemnation Repair Work.” With respect to any Condemnation Repair Work exceeding the cost amount of Twenty Million and No/100 Dollars ($20,000,000.00),the 20,000,000.00), the Authority shall have the right to (ix) Approve the general contractor and lead architect, if any, selected by XxxxXx to perform the Condemnation Repair Work, (ii) approve the terms of the contracts with the general contractor and lead architect, if any, selected by XxxxXx to perform the Condemnation Repair Work, (iiiy) approve Approve all contracts requiring payment greater than Ten Million and No/100 Dollars ($10,000,000.00) recommended by StadCo to be entered into by StadCo for the Condemnation Repair Work, and (ivz) engage an independent construction representative to review the Condemnation Repair Work, the cost of such representative shall be shared equally between StadCo and the Authority. To the extent any Condemnation Repair Work is not performed by StadCo’s employees, such Condemnation Repair Work must be performed on an arm’s-length, bona fide basis by Persons who are not Affiliates of StadCo and on commercially reasonable terms given the totality of the then-existing circumstances.

Condemnation Repair Work. In the event of (i) a Condemnation affecting less than the whole of the Premises or Substantially All of the Improvements or (ii) a Condemnation Action affecting the whole of the Premises or any material part of the Premises and StadCo does not exercise its option to terminate this Agreement pursuant to Section 11.3, the Term shall not be reduced or affected in any way, and StadCo shall, with reasonable diligence (subject to Force Majeure), commence and thereafter proceed to repair, alter, and restore the remaining part of the Premises to substantially its former condition to the extent feasible and necessary so as to cause the same to constitute a complete sports and entertainment stadium complex usable for its intended purposes to the extent permitted by Applicable Laws and in compliance with the NFL Rules and Regulations and sufficient to continue to host events and meet the Facility Standard. Such repairs, alterations or restoration, including temporary repairs for the protection of Persons or Property pending the substantial completion of any part thereof, are referred to in this Article 11 as the “Condemnation Repair Work.” With respect to any Condemnation Repair Work exceeding the cost of Twenty Million and No/100 Dollars ($20,000,000.00),the Authority shall have the right to (i) Approve the general contractor and lead architect, if any, selected by XxxxXx StadCo to perform the Condemnation Repair Work, (ii) approve the terms of the contracts with the general contractor and lead architect, if any, selected by XxxxXx StadCo to perform the Condemnation Repair Work, (iii) approve all contracts requiring payment greater than Ten Million and No/100 Dollars ($10,000,000.00) recommended by StadCo to be entered into by StadCo for the Condemnation Repair Work, and (iv) engage an independent construction representative to review the Condemnation Repair Work, the cost of such representative shall be shared equally between StadCo and the Authority. To the extent any Condemnation Repair Work is not performed by StadCo’s employees, such Condemnation Repair Work must be performed on an arm’s-length, bona fide basis by Persons who are not Affiliates of StadCo and on commercially reasonable terms given the totality of the then-existing circumstances.

Condemnation Repair Work. In the event of (i) a Condemnation Action affecting less than the whole of the Premises Land or Substantially All of the Project Improvements or (ii) a Condemnation Action affecting the whole of the Premises Land or any material part Substantially All of the Premises Project Improvements and StadCo does not exercise its option to terminate this Agreement pursuant to Section 11.315.1, the Project Term shall not be reduced or affected in any way, and StadCo shall, with reasonable diligence (subject to Force Majeure), commence and thereafter proceed to repair, alter, and restore the remaining part of the Premises Land and Project Improvements to substantially its their former condition to the extent feasible and necessary so as to cause the same to constitute a complete sports and entertainment stadium complex usable for its intended purposes to the extent permitted by Applicable Laws and in compliance with the NFL Rules and Regulations and sufficient to continue to host events and meet the Facility Standardnecessary. Such repairs, alterations or restoration, including temporary repairs for the protection of Persons or Property pending the substantial completion of any part thereof, are referred to in this Article 11 15 as the “Condemnation Repair Work.” With respect to any Condemnation Repair Work exceeding the cost amount of Twenty Million and No/100 Dollars ($20,000,000.00),the 20,000,000.00), the Authority shall have the right to (i) Approve the general contractor and lead architect, if any, selected by XxxxXx to perform the Condemnation Repair Work, (ii) approve the terms of the contracts with the general contractor and lead architect, if any, selected by XxxxXx to perform the Condemnation Repair Work, (iiiii) approve Approve all contracts requiring payment greater than Ten Million and No/100 Dollars ($10,000,000.00) recommended by StadCo to be entered into by StadCo for the Condemnation Repair Work, and (iviii) engage an independent construction representative to review the Condemnation Repair Work, the cost of such representative shall be shared equally between StadCo and the Authority. To the extent any Condemnation Repair Work is not performed by StadCo’s employees, such Condemnation Repair Work must be performed on an arm’s-length, bona fide basis by Persons who are not Affiliates of StadCo and on commercially reasonable terms given the totality of the then-then- existing circumstances.

Condemnation Repair Work. In the event of (i) a Condemnation affecting less than the whole of the Premises or Substantially All of the Improvements or (ii) a Condemnation Action affecting the whole of the Premises or any material part of the Premises and StadCo Bristol does not exercise its option to terminate this Agreement Lease pursuant to Section 11.315(c), the Term shall not be reduced or affected in any way, and StadCo Bristol shall, with reasonable diligence (subject to Force Majeure), commence and thereafter proceed to repair, alter, and restore the remaining part of the Premises to substantially its former condition to the extent feasible and necessary so as to cause the same to constitute a complete sports and entertainment stadium complex motorsports speedway usable for its intended purposes to the extent permitted by Applicable Laws and in compliance with the NFL Rules and Regulations and sufficient to continue to host events and meet the Facility Standard. Such repairs, alterations or restoration, including temporary repairs for the protection of Persons or Property pending the substantial completion of any part thereof, are referred to in this Article 11 Section 15 as the “Condemnation Repair Work.” With respect to any Condemnation Repair Work exceeding the cost of Twenty Ten Million and No/100 Dollars ($20,000,000.00),the Authority 10,000,000.00),the Fair Board shall have the right to (i) Approve the general contractor and lead architect, if any, selected by XxxxXx Bristol to perform the Condemnation Repair Work, (ii) approve the terms of the contracts with the general contractor and lead architect, if any, selected by XxxxXx Bristol to perform the Condemnation Repair Work, (iii) approve all contracts requiring payment greater than Ten Five Million and No/100 Dollars ($10,000,000.005,000,000.00) recommended by StadCo Bristol to be entered into by StadCo Bristol for the Condemnation Repair Work, and (iv) engage an independent construction representative to review the Condemnation Repair Work, the cost of such representative shall be shared equally between StadCo Bristol and the AuthorityFair Board. To the extent any Condemnation Repair Work is not performed by StadCoBrxxxxx’s employees, such Condemnation Repair Work must be performed on an arm’s-length, bona fide basis by Persons who are not Affiliates of StadCo Bristol and on commercially reasonable terms given the totality of the then-existing circumstances. Nothing contained in this Section 15(d) shall limit the Fair Board’s liability under Section 20(c)(v) hereof.

Condemnation Repair Work. In the event of (i) a Condemnation affecting less than the whole of the Premises or Substantially All of the Improvements or (ii) a Condemnation Action affecting the whole of the Premises or any material part of the Premises and StadCo does not exercise its option to terminate this Agreement pursuant to Section 11.311.4, the Term shall not be reduced or affected in any way, and StadCo shall, with reasonable diligence (subject to Force Majeure), commence and thereafter proceed to repair, alter, and restore the remaining part of the Premises to substantially its former condition to the extent feasible and necessary so as to cause the same to constitute a complete sports and entertainment stadium complex usable for its intended purposes to the extent permitted by Applicable Laws and in compliance with the NFL MLB Rules and Regulations and sufficient to continue to host events and meet the Facility Standard. Such repairs, alterations or restoration, including temporary repairs for the protection of Persons or Property pending the substantial completion of any part thereof, are referred to in this Article 11 as the “Condemnation Repair Work.” With respect to any Condemnation Repair Work exceeding the cost of Twenty Five Million and No/100 Dollars ($20,000,000.00),the 25,000,000.00),the Authority shall have the right to (i) Approve the general contractor and lead architect, if any, selected by XxxxXx StadCo to perform the Condemnation Repair Work, (ii) approve the terms of the contracts with the general contractor and lead architect, if any, selected by XxxxXx to perform the Condemnation Repair Work, (iii) approve all contracts requiring payment greater than Ten Million and No/100 Dollars ($10,000,000.00) recommended by StadCo to be entered into by StadCo for the Condemnation Repair Work, and (iv) engage an independent construction representative to review the Condemnation Repair Work, the cost of such representative shall be shared equally between StadCo and the Authority. To the extent any Condemnation Repair Work is not performed by StadCo’s employees, such Condemnation Repair Work must be performed on an arm’s-length, bona fide basis by Persons who are not Affiliates of StadCo and on commercially reasonable terms given the totality of the then-existing circumstances.

Condemnation Repair Work. In the event of (i) a Condemnation affecting less than the whole of the Premises or Substantially All of the Improvements or (ii) a Condemnation Action affecting the whole of the Premises or any material part of the Premises and StadCo does not exercise its option to terminate this Agreement pursuant to Section 11.3, the Term shall not be reduced or affected in any way, and StadCo shall, with reasonable diligence (subject to Force Majeure), commence and thereafter proceed to repair, alter, and restore the remaining part of the Premises to substantially its former condition to the extent feasible and necessary so as to cause the same to constitute a complete sports and entertainment stadium complex usable for its intended purposes to the extent permitted by Applicable Laws and in compliance with the other NFL Rules and Regulations and sufficient to continue to host events and meet the Facility Standard. Such repairs, alterations or restoration, including temporary repairs for the protection of Persons or Property pending the substantial completion of any part thereof, are referred to in this Article 11 as the “Condemnation Repair Work.” With respect to any Condemnation Repair Work exceeding the cost of Twenty Million and No/100 Dollars [ ] ($20,000,000.00),the $ ),the Authority shall have the right to (i) Approve the general contractor and lead architect, if any, selected by XxxxXx StadCo to perform the Condemnation Repair Work, (ii) approve the terms of the contracts with the general contractor and lead architect, if any, selected by XxxxXx to perform the Condemnation Repair Work, (iii) approve all contracts requiring payment greater than Ten Million and No/100 Dollars [ ] ($10,000,000.00$ ) recommended by StadCo XxxxXx to be entered into by StadCo for the Condemnation Repair Work, and (iv) engage (at StadCo’s expense) an independent construction representative to review the Condemnation Repair Work, the cost of such representative shall be shared equally between StadCo and the Authority. To the extent any Condemnation Repair Work is not performed by StadCo’s employees, such Condemnation Repair Work must be performed on an arm’s-length, bona fide basis by Persons who are not Affiliates of StadCo and on commercially reasonable terms given the totality of the then-existing circumstances.